“Bogus Boatos on the Bossa Nova Buck”

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Source: BCB (2003)

The Banco Central do Brasil dispels a rumor (boato):

Em razão de boatos que circulam especialmente no Rio de Janeiro e em Fortaleza, o Banco Central esclarece que não há fundamento nas informações de que estaria recomprando moedas de 1 real com a figura de Juscelino Kubitschek e do prédio do Banco Central. Assim como as demais moedas bimetálicas de 1 real, as moedas com a figura de Juscelino Kubitschek e do prédio do Banco Central permanecem normalmente em circulação e valem o correspondente a seu valor de face, ou seja 1 real. O Banco Central somente recebe moedas que estejam danificadas, com suspeição de legitimidade ou em processo de recolhimento (perda de poder liberatório).

In reason of rumors that are circulating, especially in Rio de Janeiro and Fortaleza, the Central Bank of Brazil announces that there is no foundation to reports that it may be buying back 1-real coins depicting former president Kubitschek and the Central Bank building.

Which is possibly even more of an architectural abomination than that Federal Gothic fortress that Ben Bernanke hangs out at. (I am not a big fan of Brazilian Brutalist hypermodernism, or Oscar Niemeyer.)

Like other bimetallic 1-real coins, those with the image of Kubitschek and the BCB building will continue to circulate normally at face value. The Central Bank only recalls coins that are damaged, of suspect authenticity, or in the process of being taken out of circulation (loss of …)

Not sure how to translate poder liberatório off the top of my head. I guess it means it is no longer legal tender for all debts, public and private.

JK is sometimes referred to as “the bossa nova President.”

The BCB edifice: Remind you of The Matrix, or an old Cray supercomputer, or what?


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